OTE seeks Armenian exit

5 Apr 2006

After discussions with the Armenian government, Greek telco OTE has revealed that it is seeking a buyer for its 90% stake in Armentel, the country’s dominant fixed line and mobile operator. OTE has expressed willingness in the past towards disposing of the investment, having allegedly found the Armenian business environment less than favourable. According to OTE senior executives, Russian operators and private investment funds have already shown an interest, with cellco MegaFon being one of the companies rumoured to be considering a bid.

Armenia, Cosmote, MegaFon, Team Telecom Armenia (formerly Beeline)